Credit/Private Debt
The retirement association made 13 commitments totaling more than $900 million.
The manager had been on watch since 2024 due to underperformance.
The retirement system also considered approving a 2026 private markets pacing plan last week.
The retirement plan approved a new long-term asset allocation policy and 2026 private markets pacing plan in the fourth quarter.
The plan will receive pacing recommendations across private equity, non-core real estate and private credit next week.
The plan has asked its consultant to come back with U.S. mid-cap growth and value manager options.
The foundation added an undisclosed commitment to a manager’s second private credit impact investment fund, which targets senior secured loans.
The foundation made a direct lending commitment with a new manager within its endowment in the third quarter.
The firm’s second credit fund closes with more than $325 million in commitments across the fund and its co-investment vehicles.
The plan is searching for a firm to provide private equity and private credit consulting services.